San Jose Federated City Employees Retirement System
public plan · City of San Jose · San Jose, CA
Funding History
What This Means for You
San Jose Federated City Employees Retirement System is in good financial health at 74% funded. This means for every dollar the plan owes in future benefits, it has 74 cents in assets to cover it. As a public pension, benefits are typically backed by the taxing authority of the sponsoring government. Participants in this plan have relatively low risk of benefit reductions.
Year-by-Year Funding
| Year | Assets | Liabilities | Funding Ratio | Contributions |
|---|---|---|---|---|
| 2023 | $4.2B | $5.7B | 74.2% | $250.0M |
| 2022 | $4.1B | $5.6B | 73.0% | $242.5M |
| 2021 | $3.9B | $5.2B | 76.0% | $235.0M |
| 2020 | $3.8B | $5.5B | 70.0% | $227.5M |
| 2019 | $3.7B | $5.1B | 72.0% | $220.0M |
Frequently Asked Questions
San Jose Federated City Employees Retirement System is 74% funded, meaning it has 74 cents in assets for every dollar in future benefit obligations. This is below the 80% threshold actuaries consider healthy, and may require increased contributions.
San Jose Federated City Employees Retirement System has 12,000 total participants, including 5,500 active employees and 6,500 retirees currently receiving benefits.
San Jose Federated City Employees Retirement System is not covered by the PBGC. Benefits depend entirely on the plan's assets and the sponsor's ability to fund it.
The Pension Health Score (0-100, A-F) measures a pension plan's financial strength based on funding ratio (50%), funding trend over 3 years (30%), and PBGC risk level (20%). Higher scores indicate more secure retirement benefits.
Pension Health Score is calculated from funding ratio, 3-year funding trend, and PBGC risk classification.